In Okunland,a Country That Operates According to Okun's Law,actual GDP

question 162

Multiple Choice

In Okunland,a country that operates according to Okun's law,actual GDP equals $7,520 billion,potential GDP equals $8,000 billion and the natural unemployment rate is 5%.What is the actual rate of unemployment in Okunland?

• A) 2%.
• B) 3%.
• C) 5%.
• D) 7%.
• E) 8%.

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Definitions:

Probability

A measure or estimation of how likely it is that an event will occur, expressed as a value between 0 and 1.

Formulas

Prescribed or established sets of mathematical or symbolic rules used to solve a problem or ascertain a truth.

Thematic Apperception

A psychological method and assessment tool where individuals express their thoughts and feelings through the stories they make up about ambiguous images.

Need for Achievement

A psychological trait that drives an individual to pursue and attain goals, often characterized by determination and ambition.